KINEKT Terminals

Let's go to continue this blog with another project. First of all, for who missed previous entries, what's a crypto money? To be fast and concise, it is a digital medium of exchange. And the next question would be... What's your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly.

Today there are thousands of coins on the market, already in operation, such as Bitcoin, Ethereum, Ripple, etc., but there are many thousands more that are about to leave. The former are called cryptocurrencies and can be purchased on many websites such as Coinbase, Localbitcoins, Kraken, etc. The others are the so-called ICO's (Initial Coin Offering), which can be obtained with significant discounts and price runs through small contracts and transfers through Ethereum. But there exist others those that have just been born, which are not even in the ICO phase, which launches campaigns to attract the public attention, these are the Airdrops. With this, we can get thousands of coins for free. I emphasize these because it's a way to win crypto coins even if the market is as it is. In this way, you never lose money.

However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As we all know, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been agiler in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account. For this reason, that is why I choose the best of them through an exhaustive study of the main characteristics.
After this brief introduction to the broad topic of Blockchain and Smart Contracts, we can already see that this technology opens many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc.

As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been agiler in adopting emerging technologies compared to incumbents who are hampered by legacy systems.

Moving to the today's topic... Initially, bank card terminals were designed to allow card payments as an alternative to physical cash. To make this possible, bank card terminals and their associated networks were designed for the exclusive use and control of the banking industry and its related partners. However, the functional limitations of the original design of the pull payment processing made it difficult to adapt to current market needs, impossible to foresee at that time, in which merchants would prefer terminals capable of processing one or more different types of transactions in installments simultaneously.

In consideration of the entire current market situation and technologies available, I want to share with you the KINEKT Terminal Project, designed to help solve every aspect related to the shortcomings of bank card terminals, whilst at the same time offering significant additional value.

Definition

KINEKT Terminals (XKN) (https://www.kinekt.technology/) is an integrated touch terminal based on a block chain of new generation that is used in physical points of sale. The terminal is designed to be low cost and is totally agnostic to the customer, service and POS technology. As a novelty, the KINEKT terminal can process multiple transactions using only one fingerprint + pin. In addition, transactions are managed by artificial intelligence (AI) to automatically select the default card services of a customer, or changed on the fly as necessary using the touch terminal itself. Revenue is generated by charging participants a small percentage of the value of each transaction payable using the KINEKT Token.

Ilustration

Goal

The main objective of KINEKT is to provide
the global market with a new generation
of low cost, simple and secure Transaction Terminals,
capable of allowing instantaneous transactions for all
the global market of physical points of sale
through the use of a single terminal in place of many.

Benefits

Customer agnostic

Service agnostic

Technology agnostic

Because it provides an economical, simple, secure and infallible way for any conceivable customer to transact in physical points of sale using only a fingerprint + a secret pin.

Because it provides a method for any third-party service provider to connect to the KINEKT platform so that its customer base can make instant transactions at the participating points of sale.

Because it works with any point of sale and does not require customers to have specific phones or bank cards to process transactions - only a fingerprint and a secret PIN are required.

Use cases

Image

Use case

Description

Cryptocurrency Transactions

Enabling both traditional and cryptocurrency type transactions to processed without exclusion of the other simply by having providers plug into the KINEKT Cloud.

Mobile Wallet Transactions

Enabling any mobile wallet providers in the world to simply plug into the KINEKT Cloud in order for their customers to transact at participating merchant points of sale without expensive terminal upgrades being required.

The agnostic design of the KINEKT Terminal make cost and forces reduction possible to include every 3rd party service provider transaction in one seamless step

Unbanked Transactions

The KINEKT Terminal make the cost of banking services, and the lack of infrastructure to use card related services such as ATM's and merchant bankcard terminals possible for the banking industry, mobile wallet providers and merchants to gain access to these remote markets by way of its internal GSM connection to the cloud, and Fingerprint reader to identify customer accounts during the transaction process instead of issuing traditional bank cards etc.

Charity Transactions

To perform the function of a "digital tin" capable of automatically or manually collecting small change amounts from the public as part of the normal payment process.

Token details

The Token is called KINEKT Token (XKN) and is classified as a fungible utility token required by the participants to benefit from the services performed through the KINEKT Terminal. XKN tokens are based on the ERC20 standard of the Ethereum network and can be purchased using BTC, ETH or USD. A maximum of 250 million chips will be created. During the fundraising period, 1 Token XKN will be equal to 0.20 US $ without including bonuses.

The project gives the opportunity to earn KINEKT Terminals (XKN) tokens performing some social media tasks and doing simple steps from the bounty program explained into the Bitcointalk Webpage. Here (https://bitcointalk.org/index.php?topic=3315264.0) you can access the link in order to see what are the conditions to become an early XKN contributor and start acquiring tokens.